Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
The dollar index held below 99 on Tuesday, trading at five-week lows as growing concerns over the US fiscal outlook and shifting trade policies undermined investor confidence in US assets. Market attention is now focused on upcoming Senate debates over Trump's sweeping tax cut and spending bill, which is expected to significantly expand the national debt. According to the Congressional Budget Office, the proposed measures could add approximately $3.8 trillion to the federal government's $36.2 trillion debt over the next decade. On the trade front, Trump's decision to postpone the...
Gold continued to edge lower as demand for safe-haven assets eased, with investors weighing the prospect of improved trade relations between the US and EU. Bullion was trading near $3,347 an ounce, after falling 0.4% on Monday, after Brussels said it would speed up negotiations with Washington to avoid a trans-Atlantic trade war. Both sides have softened their approach after US President Donald Trump initially criticized the bloc for stalling talks. Demand for safe-haven assets such as bullion has been hit by signs that the White House may be making progress in negotiations with some...
EUR/USD started the week on a positive note but pared some of its earlier gains after hitting a four-week high of 1.1420, sponsored by US President Donald Trump's reversal of his decision to impose tariffs on the European Union (EU) on June 1. At the time of writing, the major was trading at 1.1380, up 0.20%. Last week, late on Friday, Trump threatened to impose 50% tariffs on EU goods on June 1, as negotiations with the bloc were not going as expected. This triggered a rally in EUR/USD, which ended at a two-day high of 1.1375. However, a phone call between EU Commission President Ursula...
Oil prices were steady on Monday on news that the eight-nation OPEC+ group, which has pledged voluntary oil output cuts, will now meet on May 31, a day earlier than previously planned. Brent crude settled down four cents at $64.74 a barrel, while U.S. West Texas Intermediate crude was last trading at $61.53 a barrel, unchanged from the previous session. Trading volumes were low due to the U.S. Memorial Day holiday. Three OPEC+ sources told Reuters on Monday of the change in meeting date. The meeting is likely to decide on July output, which sources previously told Reuters would require an...
Gold prices fell more than 0.50% on Monday (5/26) amid lack of demand for haven assets after United States (US) President Donald Trump delayed tariffs on the European Union (EU). Meanwhile, trading remained quiet due to the closure of the UK and US financial markets for a holiday. At the time of writing, XAU/USD was trading at $3,336. The market mood improved after Trump's statement on Sunday, delaying the imposition of tariffs on EU products until July 9. Therefore, Bullion was pressured after last week's gain of more than 4.86%, the most significant increase since the week began on April...
Gold prices fell more than 0.50% on Monday (5/26) amid weak demand for haven assets after US President Donald Trump delayed tariffs on the European Union (EU). Meanwhile, trading remained quiet as the UK and US financial markets were closed for a holiday. At the time of writing, XAU/USD was trading at $3,336. The market mood improved after Trump's remarks on Sunday, delaying the imposition of tariffs on EU products until July 9. Therefore, Bullion was pressured after last week's gain of more than 4.86%, the most significant increase since the week began on April 7. On Friday, XAU/USD...
Oil prices were steady on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt fuel demand. Brent crude futures fell 17 cents to $64.61 a barrel by 8:35 a.m. ET while U.S. West Texas Intermediate crude futures fell 18 cents to $61.35 a barrel. Both contracts were trading higher earlier in the session after Trump said he had agreed to extend a deadline for trade talks with the European Union until July 9, marking another temporary suspension of trade policy. Global markets rose...
Gold prices fell on Monday after U.S. President Donald Trump reversed course on his threat to impose 50% tariffs on goods from the European Union beginning June 1, reducing demand for the safe-haven asset. Spot gold was down 0.7% at $3,334.53 an ounce, as of 0848 GMT. U.S. gold futures fell 1% to $3,333.40. "I would call it a range-trading day," said Giovanni Staunovo, UBS analyst, attributing the modest drop in prices to Trump's decision to delay the imposition of higher tariffs on the EU. "With U.S. Memorial Day, activity is likely to be on the lower end today." The markets in the...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....